Sunday, April 22, 2012

Open House Today for Prospect Heights "2BR": 521 Dean Street, #6

As we've documented, the search for a true 2BR for $700K in the best areas of brownstone Brooklyn ain't easy. Today few made it out in the rain to check out the recently-listed "2BR" co-op at 521 Dean Street, #6. Out for about a month with this list price of $495K, getting into a modern renovation with exposed brick and a wood burning fireplace, in an old co-op with a nice stone front on part of its exterior... that ain't bad for a prime Prospect Heights block with a fake-turf baseball/soccer field and basketball courts on it, around the corner from the 2/3 and Bergen Bagel. What's the catch? Well, one reader complained to us that noise from the new stadium is a concern. While the entrances are on the other side, the stadium is literally right out your window over here. But neighbors on this block tell us it hasn't bothered them any. Interestingly, another reader told us that Prospect Heights is "too quiet" for her, and she'd opt for a modern Williamsburg condo over this one.

The only real rub here, besides the $685/month common charges that many buyers at this pricepoint aren't all ready to stomach (even though it's not bad at all - as these things go), is the "2nd bedroom". Used a nursery now, you'd be lucky to slide a twin bed in there, let alone use it as the true 2nd bedroom that would make this pricepoint a steal for this neighborhood and condition.

The latest condo in the converted church at 360 Court Street had a similar hold-up on the true 2nd bedroom, but in a way better neighborhood and more unique space. With open houses scheduled at 521 Dean Street through next month, it's easy to go see and we don't suspect it's in much of a hurry.

Pro's: modern renovation, value pricepoint, exposed brick, wood fire place, nice block

Con's: not a true 2BR, around the corner from the stadium, fire station across the street

Ideally: still worth a look, and value all day. Worse 1BR's have fetched more.

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